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Investment Thesis: Content slate strength driving subscriber acceleration and ARPU expansion creates path to FCF inflection. International rollout and premium tier adoption underappreciated by street. Target $95 represents 40% upside with favorable risk/reward given improving KPI trends and multiple near-term catalysts.
$68.20
$68.20
+40%
$5.1B
Investment Thesis: Content slate strength driving subscriber acceleration and ARPU expansion creates path to FCF inflection. International rollout and premium tier adoption underappreciated by street. Target $95 represents 40% upside with favorable risk/reward given improving KPI trends and multiple near-term catalysts.
$68.20
$68.20
+40%
$5.1B
Investment Thesis: Content slate strength driving subscriber acceleration and ARPU expansion creates path to FCF inflection. International rollout and premium tier adoption underappreciated by street. Target $95 represents 40% upside with favorable risk/reward given improving KPI trends and multiple near-term catalysts.
$68.20
$68.20
+40%
$5.1B
Investment Thesis: Content slate strength driving subscriber acceleration and ARPU expansion creates path to FCF inflection. International rollout and premium tier adoption underappreciated by street. Target $95 represents 40% upside with favorable risk/reward given improving KPI trends and multiple near-term catalysts.
$68.20
$68.20
+40%
$5.1B
